Medium- to Long-Term Group Management Vision "Forward 120"
May 23, 2003
NYK has mapped out a new medium- to long-term group management vision, "Forward 120(One Twenty)", which places emphasis on "Becoming Even More Global" and "Seeking Even More Onsite Activity" as NYK vigorously advances toward the year 2005 during which it will celebrate the 120th anniversary of its founding.
This new vision represents NYK's determination to evolve into a corporate group that aims to be recognized for its "global" network of expertise, and to have personnel of group companies actively seek to become even more involved in onsite activity in their day-to-day business. In consolidated terms, NYK aims to achieve a revenue of Yen 1,360 billion, a recurring profit of Yen 77.5 billion, and an after-tax return on invested capital of 6% in the 2004 fiscal year ending in March 2005.
To attain these targets, "Forward 120" stresses the following two strategies:
In April of this year, the car transport division was separated from the tramper/specialized carrier division and integrated with the container transport and logistics divisions to inaugurate the Global Logistics Headquarters covering these three sectors.
While further improving and expanding home electrical appliance/retail logistics, the Global Logistics Headquarters will strive to better play to NYK's strength - that is, the close connections it has with automakers. By thus further deepening internal business cooperation traversing different divisions, NYK aims to vigorously meet the needs of car-related logistics which are bound to expand in China/Asia and other markets.
NYK intends to make a bold advance into the Atlantic business it has scarcely handled so far, to say nothing of the China/Asia market that promises to grow fast in the years ahead. To that end, NYK will establish "Bulk & Energy Atlantic" in Europe, station a director in charge of sales, and also set up a CFO International Office to reinforce its financial power.
In addition, the NYK Group will continue to take up challenges in new sectors as typified by such ongoing projects as the assignment of the Techno Super Liner to the Ogasawara Island route, slated to begin in the spring of 2005, and the operation of the deep-sea scientific drilling vessel, Chikyu, also scheduled to begin operations in 2005.
Since 1986, NYK has reviewed and revised its medium- to long-term group management vision, "NYK21," every four years. The present "Forward 120" represents a revision of the "NYK21 New Millennium Declaration - Meeting Tomorrow's Challenges Today", which was mapped out in 2000. Under "Forward 120", which is the fifth installment of NYK21, NYK will go all out to push ahead with the above-mentioned strategies.